GST rollout: Union Minister Nitin Gadkari says both government and businesses will benefit from new tax regime

GST rollout: Union Minister Nitin Gadkari says both government and businesses will benefit from new tax regime

The Union Minister has said that the GST will help curb corruption and give a boost to the economy, Gadkari also added that after the GST bill is rolled out red-tapism and bureaucratic interference in doing business will reduce.

Union Minister Gadkari said that the revenue of both the government and businesses will increase. (Source: Twitter/ABP)

GST rollout: Days before the rollout of the Goods and Services Tax (GST), Union Minister for Road Transport and Highways and Shipping Nitin Gadkari speaking at ABP News’ ‘GST sammelan’ has said that the new tax regime will provide benefits to the nation. The Union Minister has said that the GST will help curb corruption and give a boost to the economy, Gadkari also added that after the GST bill is rolled out red-tapism and bureaucratic interference in doing business will reduce. The minister also added that there is support for the GST from across the political spectrum.

Union Minister Gadkari said that the revenue of both the government and businesses will increase after the new tax regime will be introduced On June 30-July 1. The minister added that the new tax regime will end the use of improper bills and this step alone will create a lot of revenue for the government.

The minister said that the new tax regime will greatly reduce the services in the logistics and road transport industry as trucks and buses won’t have to wait in long lines to pay various taxes such as octroi tax. The Union Surface Transport Minister added that due to the removal of these bottlenecks, road surface transport services will improve.

Gadkari, while speaking at the event, also said that it would not be right to compare the GST with demonetisation. The minister also added that it is natural for people to be apprehensive about the GST, he has also added that people should give GST some time before they judge it.